The Federal Government has a program specifically for people who work for nonprofit, government or public sector employers. If you work for one of these employers, have Direct Loans, and make 120 monthly on-time payments, you may be eligible to have your remaining federal student loan debt forgiven tax-free. Entering into PSLF or another forgiveness program requires a commitment to see it through to the end. Switching to an income-driven repayment plan (required if you are working towards PSLF) may actually cause your student debt to increase over time, which can be problematic unless you get forgiveness at the end. If you know you will not be working fulltime in a non-profit for 120 months, then forgiveness may not be the right path for you. Individuals may want to consult their personal tax or legal adviser before making any decisions regarding the status of their student loans. Learn more about this here.

TIAA has joined forces with Savi, a social impact technology company, to help you navigate federal student loan programs. Their student loan solution will help you identify eligibility for federal income-driven repayment plans and forgiveness programs designed specifically for people who work at eligible public interest employers, that is, at a 501(c)(3) not-for-profit school, university or hospital; in government or approved governmental entities; or at a few other public interest organizations.

This service is designed to make that process easier if you are eligible and applying.

Savi was started as a social-impact public benefit company. The people behind it are student loan experts, advocates and borrowers who have been fighting for many years to improve the broken student loan system. Savi realized that the 44+ million student loan borrowers needed better and more personalized information about how to manage and repay their debt. Savi helps people navigate the valuable but complicated federal programs available to people who work in public service. TIAA has a minority ownership interest in Savi.

Savi users saw average projected savings of $1,680 per year and an average projected forgiveness of $40,000 per borrower.

There are two service tiers available to borrowers. 1. A free calculator to assess their situation and get guidance on the best options available. 2. For $70 per calendar year, you can enroll in Savi’s Essential service. Savi will administer the program’s ongoing paperwork requirements including annual re-enrollment, employer certifications, and filing for PSLF credits with the DOE. This service helps borrowers avoid common and not-so-common errors and to stay in compliance with exacting rules.

Savi Essential takes the stress out of filing. For $70 per year, you’ll receive customized one-on-one support from Savi’s student loan experts and Savi will administer all of the paperwork, employment certification and e-filing on your behalf.

• Digitally prefill all forms and check them prior to submission

• Submit and track applications and forms on your behalf

• Provide ongoing application monitoring and reminders to ensure you cross the forgiveness finish line

• Track the accrual of PSLF credits throughout the process to prevent surprises at the end of the repayment period

• Get annual enrollment reminders and updates on new programs and policy changes

Borrowers who enroll in the Savi Essential service save, on average, twice the amount of the annual fee in a single month under an income-driven repayment plan and report more than a 98% success rate when submitting paperwork for the Public Service Loan Forgiveness program. Experts keep you on track and help you through the entire process.

Go to www.TIAA.org/duc/student and follow the path to explore your federal forgiveness options. You’ll need three things to use Savi effectively:

1. Your social security number (format: 123-45-6789)

2. The first page of your most recent tax transcript* or tax return

*A tax transcript is a summary of your recent tax filings that can be requested from the IRS (Internal Revenue Service). Each transcript includes important information for applying to new student loan repayment plans, such as your filing status, adjusted gross income (AGI), wages, and more. You can request a copy of a tax transcript in about 5 minutes by visiting

https://www.irs.gov/individuals/get-transcript

3. Logins to any loan servicers

Your login information includes username or email, password, and anything else required to log into your student loan servicer’s website. Your student loan servicer website is the place you go to make payments on your student loans. This information will be used to import your student loan details into Savi during the account setup process.

Phone Support: For technical/account set-up questions, employees can reach out to 833-945-0654

Premium Support: Premium users can click the "contact support' button from within their application, which is the best way for them to get in touch with our team of student loan experts.